- In Insights
Bain-Altagamma's Luxury Goods Worldwide Market Study revealed that the Americas were back to being the top region for personal luxury goods sales by the end of 2022. In addition to traditional luxury hubs in the US returning to growth, suburban areas proved to be a promising source of luxury sales. In Latin America, Mexico and Brazil experienced solid growth.
Europe benefitted from robust consumption, supported by healthy domestic demand and the return of tourists from the US and Middle East.
Excluding mainland China and Japan, Asia saw 43% YoY growth in the luxury market, with South Korea, Thailand and other Southeast Asian countries performing well. China was constrained by prolonged Covid restrictions, resulting in curbed performance. Japan's luxury market grew by 18% YoY, reaching its pre-Covid level, driven by solid local consumption and the return of tourism.
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